Blog : Loss Prevention

One of the industries that suffers the highest percentage of loss through shoplifting is the retail pharmacy industry. Now, you may immediately think we’re talking about prescription drug theft, but that generally occurs during full-out robberies, since thieves would have a difficult time accessing the drug area during regular business hours.

Shoplifting is a very real problem for retailers. Each year, literally billions of dollars are lost to “sticky fingers” found on the hands of thieves who walk out of the door with items for which they never intended to pay. Theft greatly affects a store’s bottom-line profits and can be one of the most frustrating aspects of being the owner of a retail establishment.

Shoplifters have been around for centuries. From the child who steals a candy bar to the adult who pilfers high-end electronics, shoplifting is a fact of life. In days of old, deterring shoplifters took an eagle eye and some diligent shopkeepers or employees who’d keep a look out for those suspicious-looking customers who seemed to be spending too much time in the store and not buying anything.

Retail shrinkage – a.k.a. theft – affects nearly every kind of store, from small boutiques to big box entities that stock millions of dollars of merchandise. Some shop owners will feel the effects of shrinkage more than others, but regardless of size and amount of annual loss, everyone looks for new and innovative ways to halt this growing problem.

Retailers know just how important it is to keep their inventory secure and safe from shoplifters. Shop owners who sell high priced items recognize this as more important than ever and also know that they are among those most targeted when it comes to stealing. What thief doesn’t want the latest cell phone, tablet, computer, or other trendy electronic device? For the shoplifter, these items mean big money on the street.

These days, owners of retail establishments must do whatever it takes to protect their merchandise from theft. It’s a sad but true reality of today’s society – people steal. Retail theft can greatly impact your bottom line profits. Consider this – if your average mark-up is 10 percent, you’d have to sell $1000 worth of product just to make up for a $100 theft.

Theft is a reality in the retail world. Unfortunately, stores that sell all sorts of wares become victims of shoplifting. Items big and small seem to disappear from stores that might even appear to be theft-proof, and every time someone steals something, someone else literally pays for it.

That’s why more and more shops have decided that it’s time to do something about this epidemic and are installing various sorts of loss prevention devices in order to deter thieves and keep items from walking out the door without payment.